THE HISTORY OF MONEY

The history of currency is important because it provides a foundation for understanding the principles and systems that shape modern finance. There is a strong correlation between currency and trust. Currency is dependent on trust in the following ways:

Without trust, the currency has no utility, and with no utility, the currency has no value. 

THE EVOLUTION OF CURRENCY

600 BCE, the Lydians in present-day Turkey introduced standardized metal coins made of gold, silver, and bronze. 

During the Tang Dynasty (618-907 CE), China instituted paper money. 

In 1933 the United States abandoned the Gold Standard. This is important because it lead to the rise of fiat currencies not being backed by a physical commodity.

In 2009, the pseudonym Satoshi Nakamoto introduced Bitcoin, a decentralized digital currency based on blockchain technology marking the birth of cryptocurrencies